Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2022

• 7 January 2022 4:15 am

  Market Drivers – US Session – 6 January

  

  The North American trading session closed Thursday with prevalent passive performance, while the US dollar has managed to retain its gains against most of the major currencies since the release of FOMC minutes.Economic DataThe weekly jobless claims reading rose to 207 thousand claims for the week ending 31 December, compared …

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• 7 January 2022 3:58 am

  Most Populous State In Australia To Reimpose COVID-19 Restrictions

  

  Australia’s New South Wales state, where Sydney is located and home of one third of Australia’s 25 million population, will re-impose restrictions including shutting nightclubs and canceling non-urgent surgeries because of record coronavirus contagions according to the Sydney Morning Herald in a report published early Friday.The news adds that the …

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• 7 January 2022 2:51 am

  ISM Data Reflects Status Of US Economic Recovery

  

  US businesses and firms have eventually managed to cope with shortages and Omicron. The ISM services index falls to three-month low of 62% from record 69.1%. Most US companies that service customers are still doing brisk business, but omicron threatens to dampen sales. The ISM figures have revealed that CVS, …

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• 7 January 2022 1:48 am

  US Equity Traders Eying NFP Data

  

  As traders continue to digest Wednesday’s hawkish Fed minutes, which caused US shares to retreat, and discuss its implications of the minutes to Fed’s policy tightening, US equity trading has displayed more passive performance. The S&P 500 Index has been hovering around the 4700 level on Thursday between 4670 lows …

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• 7 January 2022 12:58 am

  Could NFP Data Ignite More Hawkish US Policy?

  

  The financial markets’ traditionally favorite US economic statistic has been dethroned, and new classes of data became of higher importance. For the next several quarters, the main role of Nonfarm Payrolls will be to support, reinforce and confirm the Federal Reserve’s new policy which is highly sensitive to inflation. Short …

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• 6 January 2022 11:40 pm

  USD/CAD Slides On Strong Oil

  

  The Canadian dollar is struggling to navigate the latest omicron wave with mixed performance against the rising commodity prices.Oil Prices have left the pair in the middle of the range over the past six weeks with the bottom at 1.2600 and top at 1.2950. With all the lockdowns in Canada …

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• 6 January 2022 11:23 pm

  Fed’s Bullard: Could raise interest rates as soon as March

  

  St. Louis Fed President James Bullard said on Thursday that the US Fed could raise interest rates as soon as March. The Fed official, known as a hawk and aligned with the market sentiment, explained that the US central bank is now in a “good position” to take even more …

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• 6 January 2022 10:33 pm

  US Economy Expected to Grow in 2022

  

  Despite the uncertainty about the new coronavirus variant, the US economy ended 2021 on a high with rising consumer spending and falling unemployment. According to the US Economic scene published by the Conference Board in December, the Omicron variant does not seem to have dampened spirits for the coming year …

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• 6 January 2022 10:17 pm

  Consumer Demand for Goods Drove US Import Surge During Holidays

  

  US trade deficit in goods hit a fresh record in November due to strong demand and an easing of supply-chain issues.California’s Port of Los Angeles is struggling to keep up with the influx of cargo containers arriving at its terminals, creating one of the biggest obstruction points in the global …

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• 6 January 2022 9:51 pm

  Fed’s Daly: We will need to raise interest rates to keep economy in balance

  

  Federal Reserve Bank of San Francisco President and FOMC member Mary Daly said on Thursday that policymakers will need to raise interest rates to keep the economy in balance. “Even if we do a couple of interest rate increases, monetary policy will still be accommodative”, she added. Additional Remarks:“Inflation is …

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• 6 January 2022 8:31 pm

  WTI Briefly Eclipses $80.00 level to Multi-Week Highs

  

  The WTI crude oil briefly eclipsed the $80 per barrel level for the first time since mid-November as OPEC+ struggles to lift output.Crude oil prices have rallied despite recent downside in global equities after hawkish Fed minutes, and are keeping an eye on Kazakhstan unrest.Front-month WTI futures have surged on …

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• 6 January 2022 8:00 pm

  US: ISM Services PMI falls to 62.0 in December Below Expectations

  

  The Institute of Supply Management’s headline Services PMI index fell to 62.0 in December versus forecasts for a fall to 66.9 from 69.1 in November. Business Activity fell to 67.6 from 74.6. Prices Paid rose to 82.5 from 82.3. New Orders fell to 61.5 from 69.7, the lowest such reading …

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• 6 January 2022 7:17 pm

  US Factory Orders Rise Slightly Above Expectations

  

  According to US Census Bureau data, US Factory Order rose by 1.6% MoM in November. That was slightly above the expected 1.5% gain and marked an acceleration on the 1.2% MoM gain seen back in October (which was revised up from 1.0%). Excluding transportation, orders were up 0.8% on the …

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